Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down – Here’s Why

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $26.71, but opened at $26.06. Grupo Simec shares last traded at $26.06, with a volume of 702 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Grupo Simec from a “strong-buy” rating to a “buy” rating in a report on Friday, November 8th.

Grupo Simec Trading Down 2.4 %

The firm has a market cap of $4.01 billion, a PE ratio of 7.71 and a beta of 0.31.

Grupo Simec (NYSEAMERICAN:SIM) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter. Grupo Simec had a net margin of 29.44% and a return on equity of 18.62%. The business had revenue of $452.15 million during the quarter.

Grupo Simec Company Profile

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, Latin America, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold-finished bars, electro-welded wire mesh and mesh panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.